Northvolt: Schleswig-Holstein secures millions of millions for battery factory!

Northvolt: Schleswig-Holstein secures millions of millions for battery factory!

breathe a sigh of relief for the battered battery manufacturer Northvolt! In Schleswig-Holstein, fresh money could soon flow in the three-digit millions. State Chancellor Dirk Schrödter (CDU) announced that the funds of the country should be paid out in 2024 after successfully examining all requirements. This hope comes after the "Kieler Nachrichten" reported on the upcoming payments.

The EU Commission already approved funding and guarantees at the beginning of the year at an impressive amount of 902 million euros for the billion-dollar project. The federal and state governments contribute around 700 million euros, and further guarantees of 202 million euros could come. The administrative agreement stipulates that 137 million euros initially flow from state funds, while the federal government supports around 564 million euros.

Financing via Ukraine emergency loan

Financial support is provided via an emergency loan for Ukraine financing. Schrödter emphasized that it was unclear whether the payment can still be made in 2023. If this does not work, the funds could also be made available in the financial year 2025, according to the agreement with the federal government. Meanwhile, Northvolt itself is in discussions about further financing options after the company recently announced the discharge of around 1,600 employees in Sweden and stopped several expansion plans. The focus is now on the large series production of battery cells in the Northvolt Ett factory in Skellefteå. At the beginning of October, Northvolt's Germany boss Christofer Haux confirmed the commitment to the construction of the battery factory in Schleswig-Holstein.